Overview
What is Center For Economic Growth Inc?
Center for Economic Growth Inc, based in Albany, New York, is a nonprofit organization that primarily focuses on supporting small to medium-sized companies within the manufacturing and technology sectors. They assist these businesses in growing and competing in the 21st century through various means, including increasing sales, improving productivity, launching new products, and aligning executive team strategies. The organization is backed by New York State's NYSTAR program and the NIST through the Manufacturing Extension Partnership Program. Additionally, Center for Economic Growth Inc serves as the Regional Technology Development Center (RTDC), promoting technology development, transfer, management, and technical assistance across various manufacturing and technology sectors. This designation allows the organization to leverage grant funds for its clients through partners like National Grid and the Workforce Development Institute. In summary, Center for Economic Growth Inc aims to help regional companies create and retain jobs, increase sales, and expand capital investment initiatives by connecting them to potential investors and expanding venture funding opportunities.
Official website here: www.ceg.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% - Four-Star out of Four Star rating from Charity Navigator.
The Center For Economic Growth Inc has achieved a strong Four-Star rating from Charity Navigator, reflecting its high level of accountability and financial transparency. The evaluation is based solely on its Accountability & Finance score, which stands at an impressive 96%. This indicates that the organization effectively manages its resources and maintains a commitment to ethical practices.
One of the key strengths of the organization is its governance structure, with a fully independent board of directors. This independence is crucial for ensuring that decisions are made in the best interest of the organization and its mission. Additionally, the organization scores perfectly in areas such as audit oversight, material asset diversion, and the implementation of essential policies like conflict of interest, whistleblower protection, and document retention.
While the Center For Economic Growth Inc shows excellent financial health, with a program expense ratio of 96.31%, it is essential for potential donors and supporters to consider the organization's specific programs and outcomes. This information can provide deeper insights into the impact and effectiveness of the nonprofit's work. Overall, the organization's strong ratings and governance practices position it as a trustworthy entity in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Center For Economic Growth Inc legitimate?
Center For Economic Growth Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Center For Economic Growth Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.ceg.org
What is the mission statement of Center For Economic Growth Inc?
The Center for Economic Growth Inc's mission is centered around supporting regional technology and manufacturing companies. They assist in creating and retaining jobs, increasing sales, and expanding capital investment initiatives. The organization provides capital to these companies by connecting them to potential investors, reviewing business plans, and expanding venture funding opportunities. Furthermore, CEG promotes the preservation and enhancement of the quality of life in the tech valley, working at local, county, and state levels to streamline services and encourage smart growth through comprehensive planning. They aim to provide tools, information, and education for sustainable communities.
Official website here: www.ceg.org
Who is the CEO of Center For Economic Growth Inc?
Mark Eagan is the CEO of Center For Economic Growth Inc The CEO's salary of Center For Economic Growth Inc is $37,746 and their total compensation is $501,266.
Official website here: www.ceg.org
What is the revenue of Center For Economic Growth Inc?
Center For Economic Growth Inc's revenue in 2023 was $1,318,359.
Official website here: www.ceg.org
Who are the executives of Center For Economic Growth Inc and what are their salaries?
Here are 11 key members and their salaries (Center For Economic Growth Inc's CEO's salary is $37,746 and their total compensation is $501,266):
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- Compensation: $37,746
- Related: $386,904
- Other: $76,616
- Compensation: $14,758
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- Other: $11,813
- Compensation: $3,823
- Related: $168,197
- Other: $23,550
- Compensation: $123,530
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- Other: $2,196
Official website here: www.ceg.org
Where can I find the form 990 for Center For Economic Growth Inc?
Center For Economic Growth Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.ceg.org
Learn more at the official website: www.ceg.org
Mission Statement of Center For Economic Growth Inc
The Center for Economic Growth Inc is dedicated to assisting regional technology and manufacturing companies in the creation and retention of jobs, increasing sales, and expanding capital investment initiatives. Their mission involves connecting these companies to potential investors, reviewing business plans, and expanding venture funding opportunities. To achieve this, the Center employs sales calls, trade shows, and targeted strategic, cross-industry, and global marketing programs.
Furthermore, the Center for Economic Growth Inc is committed to preserving and promoting the quality of life in Tech Valley. They aim to help communities achieve smart and desired economic growth by working at local, county, and state levels. This includes expanding service-sharing, eliminating duplication, and streamlining services at all levels of government to encourage smart growth. The Center also develops comprehensive plans and provides the tools, information, and education necessary for sustainable communities.
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Impact
October, 2024
The Center for Economic Growth Inc. (CEG) significantly impacts small to medium-sized enterprises (SMEs) in the manufacturing and technology sectors through its Business Growth Solutions (BGS) program. This initiative is designed to enhance the competitiveness of these businesses, enabling them to thrive in the 21st-century marketplace. By collaborating with organizations like New York State's NYSTAR program and the National Institute of Standards and Technology (NIST), CEG helps SMEs realize new revenue streams and increase their profitability.
CEG's efforts include assisting companies in various key areas, such as boosting sales, improving operational productivity, launching new products, and aligning executive strategies. Through a combination of internal team support and partnerships with third-party experts, the organization provides tailored services that address the unique challenges faced by regional manufacturers and tech firms.
As a recognized Regional Technology Development Center (RTDC), CEG promotes technology transfer and development, focusing on connecting companies with potential investors and funding opportunities. This connection not only fosters job creation and retention but also stimulates capital investment initiatives within the community.
Furthermore, CEG engages in strategic marketing efforts, including trade shows and cultivation of business contacts, which enhances the visibility and growth potential of regional enterprises. By working at various governmental levels, CEG aims to streamline services and encourage smart economic growth, ultimately preserving and promoting the quality of life in the Tech Valley area. Overall, CEG plays an essential role in driving economic development, supporting local businesses, and positioning communities for sustainable growth.
This information is meant to be a general summary of Center For Economic Growth Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $548
- Program Service Revenue: $352,548
- Gross Receipts: $1,318,359
Assets and Liabilities:
- Total Assets: $1,845,501
- Total Liabilities: $438,713
- Net Assets: $1,406,788
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BUSINESS GROWTH SOLUTI
Revenue
$336,948
WORKFORCE DEVEL & EDUC
Revenue
$15,600
Organization Details
Founding Year
1987
Principal Officer
Mark N Eagan
Website
www.ceg.orgNTEE Category
Code: V22Z - Social research
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